Before we dive into the best 3 in 1 demat account in India, let’s try to understand what exactly do we mean by a 3 in 1 account. When you open a demat account with a stock broker to trade across financial segments such as Equity, Currency, Commodity, Derivatives etc. you also open a trading account along.
A trading account allows you to trade across these mentioned segments while a demat account is like a safe locker where you keep your purchased stocks from the stock market. Such a provision of a demat plus trading account can be provided by any stockbroker – be it a full service or a discount broker.
One main crunch when you trade is managing your funds in your account. When you trade on a regular basis, there is a consistent need of:
Immediate Transfers during opportunity situations
In case you have your bank account with a banking service and you are trading through a full service or a discount broker, you always have to make sure there are a reasonable amount of funds available in your account. Otherwise, you will to regularly keep transferring funds and in case, your trading account gets short of funds, your trading sees a hiccup.
This is where a 3 in 1 demat account comes into the picture that allows you to trade without any of the concerns mentioned above. Some of the features of a 3 in 1 demat account are:
No hassle of money transfers between accounts
Integrated financial solution with minimal paperwork
Savings account remains as the normal bank account without any impact
Suits well for beginners since some of the formalities during trading might be overwhelming
At the same time, some of the concerns with 3 in 1 demat accounts are:
Trading through a bank generally costs higher as compared to conventional stockbrokers
Specialist full-service stockbrokers stay marginally ahead in terms of market research or intraday tips
Best 3 in 1 Demat Account in India
With quite a few options in banking services in India, selecting a specialist bank that helps you to manage both bankings as well as trading needs can be a tough task. Here we are listing some of the leading banks in India that have proven that their trading abilities to their clients in the past. This review is based on:
Stock market Expertise
Some of the best 3 in 1 demat accounts in India (in no particular order) are:
HDFC Bank has a client base of close to 2 million when it comes to demat accounts across the country along with a presence in more than 3500 locations. This is a huge plus for a bank that has wide coverage with its branches and franchise locations.
As far as trading is concerned, HDFC securities is known for its top class trading platforms and customer service. Below listed are the 3 in 1 demat account opening charges of HDFC Securities:
Trading Account Opening Charges
Trading Account Annual Maintenance Charges
Demat Account Opening Charges
Demat Account Annual Maintenance Charges
You can check out a detailed review of HDFC Securities as well. You can get a free call back from HDFC by clicking the button below and providing your details.
There are multiple other banks that provide provision of 3 in 1 demat account, however, their major focus lies in their banking and other related financial services.
We, at A Digital Blogger, suggest you have a detailed discussion with each of these and other preferred banks. You should put out any concerns or any specific preferences you might have during such discussions. Most of the times, terms and charges are open to negotiation and it’s up to you as an individual till what level you can take negotiation to. Always remember, there is huge cut-throat competition out there to acquire a customer like yourself. Make sure to take due advantage of that aspect.
Still, do you have more questions to get clarified? Why don’t you send your details and we will arrange a Free call back for you!